Q: Hi — I am in the middle of hunting for the perfect sofa and think I found it. However, I don't know who it is by. Do you guys, or your readers, happen to know? Thanks a million.
Sent by Alexandra
Editor: Leave your suggestions for Alexandra in the comments — thanks!
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The rents are too damn high and the median home sale price for May was $701,000. It's time to give your pocketbook a break. Here now, a handy map of several places in the Bay Area to dip your toes into some agua for under ten bucks.
We know that summer in San Francisco is spent mostly wearing fleece jackets instead of swimsuits, but bear with us. All but two San Francisco spots on our map are indoor and feature heated pools. We also took you way east and north, where warmer weather is the norm. Did we miss your favorite watering hole or spot to throw a pool party? Let us know in the comments, as we'll be updating this map next month. Onwards!
Was $998,000
Now $849,000
You Save $149,000
And just as we thought, it's back, gloriously restored. Actually, it's been on the market for almost 5 months and just got $149,000 shaved off yesterday. Despite some uncertainty as to which parent it resembles more- a brass band or a train wreck- the agent only took the saxophone/musical analogies/puns as far as "handsomely re-tuned." We had a look at it back in 2010 when the agent at the time gave a frank assessment (it had suffered some serious water damage) then possibly a foreclosure, and was finally sold in May, 2011 for $560,000. The 3-bed, 3.5-bath Post-Modern retains most of its signature elements- gilded spiral staircases, glass block, brass railings- along with that swoopy fireplace. Really, why buy some crappy historic brown-shingled thing in Berkeley when you can have all this up in the Berkeley Hills? See it for yourself at the open house on Sunday, March 25 from 2pm to 4pm.
· Late Period Shagalicious[Curbed SF]
· 1985 Tunnel Road [Redfin]
As if we all have the luxury or time to spend the next 6 months to a year bouncing from open house to open house, entering bidding wars, and becoming best friends with our real estate agent. And while that seems like heaven to some folks, there are plenty of us who simply don't have the time or patience for that kind of home hunting. No, some of us just want to buy a brand new condo in a brand new development and get on with it. With that in mind, we've put together a handy map of where you should buy right now, right this instant. Every residential tower or complex on this list is new to the market, meaning there are plenty (plenty!) of units up for grabs that no one's lived in yet. Some of these are so fresh that they officially haven't hit the market yet (we're talking about you Millwheel and 299 Valencia). But fear not, they will be within a month. Our map features buildings from Pacific Heights to the Bayview and from South Beach to the Mission. Units range from the low $300,000s to the penthouse prices of $2.5M. Almost all of them have building amenities like roof terraces and private parking. Happy hunting!
His knuckles bruised and raw, Martin didn't appreciate the irony of the fact that Gareth didn't answer the door because he was busy painting.Photo: Tim Street-Porter/Architectural Digest Posted by Jonathan J. Miller -Thursday, January 12, 2012, 7:13 AM
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We released our report on the Manhattan rental market for 4Q 2011 this morning. I’ve been authoring this series for Douglas Elliman since 1994.
The rental market tends to lead the purchase market because rentals are generally more immediately responsive to improvement in the economy. However since the economy’s growth is tepid the key driver has more to due with the tightness of credit.
Affordability may be at an all time high but many need an arm and a leg to get financing.
Here’s an excerpt from the report:
The median net effective rent (face rent less landlord concessions) jumped 9.5% to $3,121 from $2,950 in the same period last year. The year-over-year-gains were consistent across all rental price indicators as no apparent shift in apartment mix was responsible for the increases.
The data tables will be updated shortly, if not by the time you read this. The chart section on the new site remains a work in progress.
The Elliman Report: 4Q 2011 Manhattan Rentals [Prudential Douglas Elliman]
The Elliman Report: 4Q 2011 Manhattan Rentals [Miller Samuel]
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Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We'd love to see what you've got.
Location: Los Angeles, Calif.
Price: $779,000
The Skinny: Before they achieved super-stardom, the young screenwriting and acting duo of Matt Damon and Ben Affleck holed up in this fantastical spread in the Eagle Rock neighborhood of Los Angeles. It was within these stucco walls that the pair penned the Academy Award-winning screenplay for Good Will Hunting, the flick that propelled them to A-list status. The brokerbabble claims the house was inspired by the Hansel and Gretel fairytale, but the four-bedroom fixer-upper is going to need to come up with a more convincing story to tell potential buyers. The celebrity connection hasn't done the property any favors, it has been on the market for 195 days now without finding a buyer and took a $50K price cut earlier this month.
· 2327 Hill Dr [Zillow]
· Good Will Hunting House for Sale — $779K [Zillow Blog]
Vickie is an Apartment Therapy reader who is looking for advice. She is 23 years old and has recently moved out of her family home and into an apartment. She and her boyfriend have a year lease and the ok to make some decorating decisions and general home improvements. But she's wondering where the line should be - how much work, money, and time is too much to invest?
Here is her question in her own words, from her blog:
My main question is where do I draw the line with home improvement? Our property manager told us we can paint the walls and put holes into it (wooohooo!) as long as it returns back to its original state (or forfeit our security deposit of course). If the possibilities are endless, where do we stop? Should I change the kitchen and bathroom faucet fixtures? Would I want to remove them and take them with me whenever I move out? And if I did that, would they look good in the new place? Would I want to design this 'new place' the same way with the things I already own or see it as a fresh clean slate? Should I only make small changes?
I know I must consider the length of our lease, my financial situation, the costs of the improvements to be made, the cost of redecorating a future apartment (if I left certain goods behind), the labor and cost of returning the apartment to its original plain state, how much you love your apartment, how comfortable do you want to feel in it, and many other factors I have yet to think of. Just because my dinky couch looks good and fits in my current apartment doesn't mean it will in the next. So many options to weigh!
Please share your wisdom and advice with Vickie in the comments below...thanks!
Image: Jess Watson/from the tour of Emily and Meeko's Sunny First Apartment
Home is where the heart is! Help celebrate the big move with our sturdy willow gift basket filled with decadent Belgian Chocolates, House Blend Coffee, Swiss Cheese, Water Crackers, Feel Good Snack Mix, spicy and sweet Chipotle Almonds, Chocolate Decadence Cookies, a tin of Mixed Fruit Bonbon Candy, and Sparkling Apple Cider to toast and celebrate with. Each gift basket is carefully hand crafted with attention to every detail and includes a personalized gift message from you to convey your best wishes. Price:
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Readers suggested a topic on trends in construction. “I’d like a thread from readers where the money is being spent/invested in your area. Our public television station just announced they were building a new spread downtown. The state is kicking in $5mm since they are renovating an existing building along w/new construction. Marriott just announced they were taking over some downtown buildings and renovating them w/M&T Bank backing. Our schools are still spending money on windows and grounds improvements. We have two hospitals w/new expansions. We have several new commercial retail building going up in our local villages. One is a center of businesses not just single business center. The money is flowing here from somewhere. And it isn’t just for meds, feds and eds.”
“But when you hear from say Colorado, it seems he’s looking at a totally different reality. I always felt commercial builders/contractors in this area had special ties to Albany and others that make things happen.”
“Is anyone else seeing this much new commercial construction being approved?”
“Maybe Blue Skye was right when he said upstate suffered their bottom in the 90s when everyone else was booming and now we’re on the way up? Not sure that feels right. I still think in the end no area will escape the overall reality when credit freezes up again. Sounds like our leaders are just still spending and lining pockets while it’s flowing.”
A reply, “It’s all public money funneled to private entities through the public/private partnership scams. Look no further than the “Global Foundry” scam in Malta, NY. Taxpayers are on the hook for all this kick the can down the road nonsense. It’s unsustainable.”
One added, “Here in metro Denver the new light-rail line connecting downtown Denver to the Jefferson County municipal complex is nearing completion. The line to the airport is scheduled to open in 2018.”
“The new IKEA opened on Wednesday to much hoo-ha. This is in an area already nearly built-out with retail and commercial office space, near I-25 and C-470. Throughout much of the metro, strip retail is peppered with vacancies.”
Another said, “The widening of I-75 from Cincinnati to Dayton recently started up the next phase (another 6 miles), the rebuild and expansion of the highest bridge in Ohio (on I-71 just north of Cincy) just started and should take a few years. New smaller commercial stores (tire stores, auto dealers, chain restaurants) continue to open up here. Casinos in Ohio’s biggest cities are about ready to break ground following the lifting of ban on such establishments. Cincinnati has a huge project under construction along the river, but it seems to get stalled for political reasons a lot.”
“Expansion in the Cincy/Dayton corridor has slowed from its torrid pace a few years ago, but road projects, commercial buildings, and houses are still going up.”
One observed, “On my stomping grounds, an old warehouse-thing was empty for about 10 years. A local said it had been a sort roller-rink for kids. After a year of renovations, it opened as an Asian supermarket last month.”
“An old Italian restaurant was half-torn down and renovated into a high-end pizza bistro. A store for kids bedrooms just opened next to the futon store. A 1-800 mattress store expanded from a strip mall into its own building. A one-story business building used to hold a Wachovia and a small piano store. When Wells Fargo bought Wachovia, they kicked out the piano store and are expanding into the space. After a little renovation they’ll turn rip down the Wachovia sign and raise the Wells Fargo flag. An old car dealership sat vacant for 5-6 years. There are signs out front that they are hiring and making it into a dealership for Mini.”
‘An old standalone Anthropologie store went down 5 years ago. The local Marlo furniture has a huge store, but they are moving the “tile kitchen bath” portion to the old Anthopologie. A cramped Whole Foods (used to be the old-school granola version) was in a high-end strip shopping center for decades, it seems. They finally moved down the road to larger and more yuppity digs. The old space was snapped up and is being renovated into a Fresh Market, which is almost the same thing.”
This is all private sector.
The Post & Courier. “In a break from the rest of the real estate industry, the apartment business in Charleston is busting out of the doldrums. Not all of the projects will spring from the ground anytime soon, but experts said the most financially feasible deals are likely to get done over the next two to four years. ‘The difference between now and five years ago is that the lenders are really going to control how much is developed,’ said Don Evans of Evans Rivers & Co., a Charleston-based real estate investment advisory firm. ‘It’s going to be lot more conservative.’”
The News Journal. “A vacant 505-acre tract here that had been approved for a large mixed-use, master planned community behind the planned Walmart Supercenter on Old Kings Road is now headed for the foreclosure auction block.”
“It’s a sign of the times, said Don Tobin, owner of GoToby.com Realty in Palm Coast. ‘There were a lot of developers that had big plans five years ago and did not make it,’ he said. ‘This was going to be pretty significant development with lots of homes, shopping centers, a school and fire station.’”
“Officials with JX Properties declined to comment on the loss of the property, which the Flagler County Property Appraiser says has a taxable value of about $2.8 million. The only work done on site was a narrow trail cut into the property’s northwest corner off Old Kings Road for some preliminary engineering work.”
From Financially Fit. “Here’s the dirty little secret about home renovations: Most of them don’t pay off. According to Remodeling Magazine’s annual survey, only steel entry-door replacements can be counted on to boost home value enough to recoup 100 percent of costs.”
“Homeowners can get a lot of value out of renovations before they even put the home on the market. “If you have a dated kitchen or the stove doesn’t work, you can invest money now to glean some enjoyment as well as make the home more appealing when you sell it,” says Kit Hale, general manager of MKB Realtors in Roanoke, Va.”
“That’s what Erin Schaff and her boyfriend did when they decided to upgrade their two-bedroom condo in Victoria, Canada, several years ago. ‘It wasn’t in horrible shape, but we wanted to upgrade,” she says, so they spent about $10,000 replacing the baseboards, window trim, and floors. They also remodeled the bathrooms and upgraded the hardware. In addition, they put new cabinets, appliances, and granite countertops in the kitchen.”
“Schaff and her boyfriend enjoyed all those upgrades before deciding to sell their home earlier this year. She believes the renovations paid off, too. ‘Had we not renovated, we probably would have lost money as we had purchased the condo at the peak of the real estate boom. Instead, we turned a profit and covered most of the costs of purchasing the house we now live in,’ she says.”
From Vail Daily. “Mike Dantas had a big decision to make as the local real estate market started crumbling a couple of years ago: either keep making payments on vacant land or build something. For Dantas, co-owner of Dantas Building Co., the decision was fairly simple — build. ‘We’re builders — that’s what we do,’ he said.”
“But more specifically, Dantas and his brother, Dave, are in the business of building ’spec’ homes — homes built without a specific buyer in mind. What Dantas ended up building in Avon’s Wildwood neighborhood is a foundation and two fairly modest homes. The foundation was sold to another builder — something spec builders don’t usually do. The other two homes will sell for between $550,000 and $649,000. In 2007, those prices would have been much higher.”
“‘We believe we have the right product,’ he said. ‘Right now, our competition is foreclosures, banks sales and duplexes.’”
“Dantas believes he’s taken the right approach with his project in Avon. ‘These days you’re not going to make money on the land, and you’re going to give a lot of the labor away,’ he said. ‘You don’t make a profit like you used to, but we’ve tried to build what the valley doesn’t have right now.’”
I was approached by friends this past weekend who have decided to make a long term commitment to their current job and, therefore, location. Now that they intend to stay here for more than a year, they are looking to transform their house into a home. The problem? When they arrived, they had a very short time to paint and procure furniture, and now they have buyer's remorse about essentially every room in their house.
The plan is to spend the next six months making changes to the kitchen, living room, dining room, den, the master bedroom, two bathrooms, and two kids' bedrooms. Cosmetic changes only 7mdash; the house comes with the job so the basic structures will stay the same. They want my help, but I'm at a bit of a loss on how to begin. Working in an empty space is one thing, but redoing everything in an full house with a family presents a completely different challenge.
Do we start with the private spaces, the bedrooms and bathroom upstairs, because they are more contained and therefore likely easier to complete in a shorter timeframe? If we do this, the family may feel an immediate positive effect which would help keep up their enthusiasm for the project, but may have to battle disappointment that the changes aren't visible to guests.
Or do we start with the larger, more public spaces, the kitchen, dining and living rooms, because they are the center of the home? If we do this, the family may feel they are getting more bang for the buck in terms of impact, but will have to live longer with a work in progress before they see any fully finished rooms.
My friends and I are all feeling a little overwhelmed by the various options, so I am turning to you readers for advice and assistance. Is it better to start small or start big? Would you rather make incremental changes or is a clean sweep the best way to go? If you have ever done a whole house makeover while living in the house, please share what worked and what didn't. Help me help my friends turn their house into a home that works for their family, one they will be eager to share with their friends.
Image:
It's a special fortnight indeed when Tori Spelling makes two rare appearances on Curbed—first we looked at InvenTORI, her Sherman Oaks, Calif., furniture shop, and now we're peeking at the estate where the actress/reality TV star honed her decorating prowess. She and husband Dean McDermott have just listed their Encino, Calif., villa for $3.119, hoping to make a tidy li'l profit off the place they purchased for $2.495M back in 2008. The 6,700-square-foot manse has six bedrooms, 6.5 baths; decorating fanatic Spelling did the interiors herself. Shortly after moving in and changing up the decor, she told People that "[i]t's important for me to live in a beautiful space, but I also want my kids to feel they can play around," describing the overall feel as "Hollywood Regency meets eclectic antique tied together by cozy family style."
· Oh, Right, Tori Spelling Has a Furniture Shop! [Curbed National]
· Tori Spelling Selling Encion Home [Realtor.com]
· Inside Stars' Favorite Rooms [People.com]
The real estate market continues to send mixed signals. Home sales are rising. They were up 11% in the third quarter from the same period last year to a 5.3 million-a-year annual pace.
The sales are coming thanks to a lot of financial incentives. Thirty year mortgage interest rates remain near record lows at 5.1%. Uncle Sam continues to write $8,000 tax credit checks to first time home buyers. “The buying conditions this year are the most favorable on record dating back to 1970,” says Lawrence Yun, chief economist for the National Association of Realtors.
Nearly one-third of those sales though are foreclosed homes trading at distressed prices. They are dragging down prices nationally. The Realtors association reported today that prices fell in 123 out of 153 cities tracked in the third quarter.
What about the thirty cities where home prices rose? They are places better known for affordability and stability than surging prices.
The largest single-family home price increase in the third quarter was in the Cumberland area of Maryland and West Virginia at $122,100, up 19.2 percent from the third quarter of 2008. Next was the Davenport-Moline-Rock Island area of Iowa and Illinois, where the median price increased 14.3 percent to $115,600, followed by Oklahoma City, at $144,100, up 9.1 percent from a year ago.
The biggest sales gain between the second and third quarters was in North Dakota, up 42.3 percent; followed by Rhode Island which rose 26.5 percent; and Pennsylvania, up 25.6 percent.
It’s likely that buyers in rural areas that didn’t see a tremendous surge in prices see the low interest rates and tax incentives as a good buying opportunity.
Here’s the Realtors’ Lawrence Yun’s take.
“The wide range of market performance and reversals around the country, ranging from double-digit gains to double-digit losses in both sales and prices, underscores just how local real estate truly is,” Yun said. “The wide changes and mix of numbers also indicates a market in transition, hopefully to one that is becoming more balanced and stable.”
? This unassuming brick house in Rochester, N.Y., is where women's-rights champion Susan B. Anthony lived from 1866 to her death, in 1906. Although it's not her birthplace (she's a Massachusetts native), it was in the front parlor, in 1872, that the U.S. Deputy Marshal arrested her for voting. She was fined $100 but never paid it.
? Civil-rights leader W.E.B Du Bois was born in 1868 in Great Barrington, Mass.; after much controversy, his birthplace was memorialized in 2008 by the University of Massachusetts, who owns the land. Above: the Queens, N.Y., home where Du Bois and Shirley Graham wed in 1951 and then lived until they moved to Brooklyn. As of 2008, the NAACP was fighting to get it registered as a landmarked place.
Photo: Patrick Henson/Flickr
? Shortly after her birth, a young Rosa Parks moved to her grandparents' 260-acre farm in Abbeville, Ala. In 1944, she returned to Henry County to as a representative of the NAACP to investigate rape charges brought on by a black woman.
? In March 1973, Harvey Milk and his partner, Scott Smith, moved into the second-floor apartment at 575 Castro Street in San Francisco and opened a camera shop on the ground floor. The building soon became the center of activity for an increasingly activist neighborhood; it's where Milk, the so-called "Mayor of Castro Street," developed into a local politician and pioneer for gay rights.
· Martin Luther King Jr. National Historic Site [National Park Service]
· Online Tours [Susan B. Anthony House]
· House where civil-rights leader W.E.B. Du Bois lived not landmarked [NYDN]
· Harvey Milk - 30 Years Later [The Castro]
Actress Natalie Portman is engaged to choreographer Benjamin Millepied, and they're pregnant. How very Black Swan of her to be romanced by a dance master. Anyhoo, the news is a ray of sunshine at the beginning of what's a sleepy post-Christmas week for celebrity and non-celebrity websites alike, so we're here to shed light on the Israel-born and Harvard-educated Portman's recent real estate wheelings and dealings.
In 2005, Portman purchased gorgeous 2,500-square-foot digs in Richard Meier's glassy 176 Perry Street tower in NYC's West Village for $5.7M. (A small price to pay for an apartment that was later described in the listing as being "warmed by glorious sunsets!") Two years later, she began an East Coast, Good Riddance tour as she put her other home, in Syosset, N.Y., the market for $2.2M—perhaps hoping to escape certain ethnic stereotypes that often go hand-in-hand with Jewish women in this part of Long Island? Finally, in July 2008, she listed that Meier stunner for $6.55M. So, where did she end up? Just a little four-bedroom "mini mansion" (above) in the Los Feliz neighborhood of L.A., which she purchased for $3.25M. Built in the '30s, the place boasts an impressive pedigree, having been owned by the likes of legendary jazz pianist Chick Corea and actor couple Dermot Mulroney and Catherine Keener. With 18,000 square feet of landscaped grounds, it's just the place for Portman to rest her weary, ballet-worn skin 'n' bones.
· Natalie Portman is Engaged and Pregnant! [People]
· Celebrity Real Estate: Portman Wants Off Island? [Curbed NY]
· On the Market: Natalie Portman Ditching Meierville [Curbed NY]
· Natalie Portman Purchases Celebrity Magnet Mini-Mansion in Los Feliz [The Real Estalker]
